Earn program terms and conditions

Beans Earn Balance Terms and Conditions

Last updated: 05-13-2025

These Terms and Conditions ("Terms") apply to your use of the Beans Earn Balance feature in the Beans application ("App"), provided by Beans B.V., a company incorporated under Dutch law. By interacting with this feature, you agree to these Terms. If you do not agree, do not use the Earn Balance feature.

1. Service Description

Beans Earn Balance enables users to earn a variable Annual Percentage Yield (APY) on stablecoin balances (e.g., EURC) by participating in non-custodial yield strategies powered by smart contracts on the Stellar blockchain’s Soroban platform. The strategies utilize third-party protocols such as Blend.Capital and Defindex.

User deposits are allocated to smart contracts that lend the assets into decentralized lending pools (e.g., Blend). These protocols may issue reward tokens (e.g., BLND), which are automatically claimed and converted to stablecoins (e.g., EURC) by the strategy for the benefit of the user.

Beans sponsors network transaction fees on Stellar, allowing users to interact with these smart contracts without needing to hold XLM. This sponsorship is discretionary and may be modified or discontinued at any time without prior notice.

When you deposit Stablecoins (e.g., USDC), you exchange them for dfTokens that represent your share of the Vault.  The net annual percentage yield (APY) displayed in the Interface already reflects a small interest margin / FX spread retained by the smart contract.  No additional transaction fees or subscription fees are charged on your principal deposit

2. Non-Custodial Framework and User Responsibility

Beans is a non-custodial interface. You retain full control and ownership over your assets at all times. Beans does not store or access your private keys or assets. All interactions with smart contracts must be authorized by you via your self-custodied wallet.

You are solely responsible for:

• Safeguarding access to your wallet and keys.
• Understanding how the Earn feature and smart contract strategies operate.
• The consequences of signing any transaction.

Beans cannot recover assets lost due to user error, compromised wallets, incorrect transactions, or forgotten credentials.

3. Eligibility and Legal Compliance

You represent and warrant that:

• You are of legal age and capable of entering into a binding agreement in your jurisdiction.
• You are not a U.S. Person, as defined under Regulation S of the U.S. Securities Act of 1933, and you are not accessing this service from within the United States.
• You are not subject to sanctions or located in a jurisdiction where the use of this service is prohibited.
• You will comply with all applicable laws and regulations in your jurisdiction.

You acknowledge that Beans does not perform Know-Your-Customer (KYC) procedures for the Earn feature. However, third-party partners involved in fiat on- and off-ramping may conduct KYC in accordance with applicable laws. It is your responsibility to comply with any identification, reporting, or documentation requirements applicable to your transactions, including but not limited to interactions with such partners.

You are solely responsible for determining whether your use of this service is legal under your local laws. Beans does not advertise, market, or solicit users in the United States. If you are a U.S. Person, do not use this feature.

4. Risks and Disclaimers

Using Beans Earn Balance involves substantial and multifaceted risk. By using this feature, you acknowledge and accept the following categories of risk, which include but are not limited to:

• Smart contract vulnerabilities: Smart contracts, while audited and reviewed, may contain exploitable bugs, vulnerabilities, or logical flaws. Exploitation of such vulnerabilities may result in irreversible asset loss.
• Protocol risk: The strategies depend on third-party protocols (such as Blend.Capital and Defindex), which may experience unexpected technical failure, insolvency, governance disputes, or economic attack vectors (e.g., oracle manipulation, liquidity crises).
• Stablecoin risk: Stablecoins like EURC rely on their issuer’s reserves and peg mechanisms. These may fail due to regulatory action, custodial risk, loss of confidence, or liquidity shortages, potentially causing them to trade below 1:1 parity.
• Market risk and volatility: APYs are variable and sensitive to market conditions. DeFi yields can fluctuate dramatically due to borrowing activity, emissions schedules, and token market prices. Past yield is not a predictor of future yield.
• Wallet and operational risk: If you lose access to your wallet, forget your recovery phrase, or authorize a malicious transaction, your funds may be irretrievable. Beans cannot assist in recovery.
• Regulatory and compliance risk: Beans operates in a regulatory grey area in many jurisdictions. Future enforcement actions or legislation may limit your access to the feature or render it illegal in your jurisdiction, with or without prior notice.
• Front-end dependency: While the contracts may remain functional on-chain, access through the Beans interface could be disrupted by outages, DNS seizure, takedown requests, or legal actions against Beans or its service providers.

This feature is provided "as is" without warranties or guarantees, express or implied. You acknowledge that you bear the full financial and legal responsibility for your use of this feature, including losses that may arise due to market dynamics, regulatory changes, or technical failure.

5. No Investment Advice or Financial Services

Beans is not a bank, financial advisor, investment manager, or broker. Beans is not licensed by, registered with, or supervised by any financial regulatory authority in any jurisdiction and does not operate under a financial services license. The Earn Balance is not a savings account, investment product, or security. Beans is not licensed or supervised by any financial regulatory authority in any jurisdiction.

Nothing in the App or these Terms constitutes investment, legal, or tax advice. Use of the Earn Balance does not create a fiduciary relationship. You should consult your own professional advisors before engaging with the feature.

6. Limitation of Liability

To the fullest extent permitted by law:

• Beans disclaims all liability for any direct, indirect, incidental, or consequential losses.
• Beans is not responsible for losses due to bugs, protocol failures, market crashes, or regulatory action.
• Beans’ total liability, if any, will not exceed the total fees paid by you to Beans in the three months prior to the claim.

You waive any right to participate in class action lawsuits or class-wide arbitration against Beans or its affiliates. You acknowledge that such waivers may not be enforceable in all jurisdictions.

7. Governing Law and Jurisdiction

These Terms are governed by Dutch law. Any dispute shall be submitted exclusively to the courts of the Netherlands, unless otherwise required by mandatory local law for consumers.

8. Modifications and Updates

Beans reserves the right to modify these Terms at any time. Changes will never apply retroactively and will only affect future use of the Earn Balance feature. Changes will be announced via the App or website at least 14 days before they take effect. Changes will not apply retroactively. Continued use of the feature after the effective date constitutes acceptance.

9. Contact and Legal Entities

Beans B.V. is the operating entity. Beans IP B.V. holds intellectual property rights. Both are incorporated in the Netherlands. All questions or notices regarding these Terms should be directed to Beans via the official support channels.

By using Beans Earn Balance, you confirm that you have read, understood, and agreed to these Terms.

10. Disclaimer

Beans solely facilitates the exchange of stablecoins and dfTokens through autonomous, non-custodial smart contracts.  

Beans does not custody client assets and does not provide any fiat-currency exchange service.  

Use of the web interface is free of charge; all remuneration is embedded in the Protocol Margin described above.

End of Terms

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